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The British economy grew 0.5% in the first quarter. As reported by the Office for National Statistics, growth accelerated compared with a 0.2% increase in the previous quarter, confirming economists' forecasts. Compared to the same period a year earlier, GDP grew by 1.8%, while economists had expected growth of 2%. According to experts, the acceleration of growth was made possible by increasing stocks of both British companies and consumers on the eve of the country's withdrawal from the European Union. Consumers for the quarter increased costs by 0.7%. At the same time, government spending increased by 1.4%. Nevertheless, experts believe that British GDP growth may decline due to high stocks, which will lead to a weakening of demand in the consumer and industrial sectors. The UK trade deficit reached the highest level in more than 50 years, at 3.4% of GDP, which was caused by a 6.8% jump in imports, while maintaining the same level of exports.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
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